TrinityPoint Wealth LLC Grows Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

TrinityPoint Wealth LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,755 shares of the utilities provider’s stock after acquiring an additional 134 shares during the period. TrinityPoint Wealth LLC’s holdings in WEC Energy Group were worth $1,034,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC raised its holdings in WEC Energy Group by 106,685.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after acquiring an additional 25,975,652 shares during the last quarter. American Century Companies Inc. grew its position in WEC Energy Group by 36.7% in the 2nd quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after purchasing an additional 688,812 shares during the period. Earnest Partners LLC grew its position in WEC Energy Group by 36.0% in the 1st quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after purchasing an additional 462,646 shares during the period. Assenagon Asset Management S.A. grew its position in WEC Energy Group by 151.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 583,990 shares of the utilities provider’s stock worth $56,168,000 after purchasing an additional 351,972 shares during the period. Finally, International Assets Investment Management LLC grew its position in WEC Energy Group by 10,220.1% in the 3rd quarter. International Assets Investment Management LLC now owns 303,515 shares of the utilities provider’s stock worth $29,192,000 after purchasing an additional 300,574 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 1.3 %

Shares of WEC stock opened at $99.28 on Tuesday. The stock has a market cap of $31.41 billion, a P/E ratio of 24.27, a PEG ratio of 2.66 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The company’s fifty day simple moving average is $96.33 and its two-hundred day simple moving average is $88.45.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. Analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 81.66%.

Analyst Ratings Changes

WEC has been the subject of a number of research analyst reports. StockNews.com raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America lifted their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Barclays lifted their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Finally, Scotiabank boosted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.45.

Insider Buying and Selling

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This represents a 46.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This represents a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.